Competitive Constitution?
| AN OUTSIDERS VIEW |
 |
| Ken Fuller |
Last week, this column noted the prediction by Charter change (Cha-cha) advocates that foreign direct investments would increase threefold if the constitutional restrictions on foreign ownership were removed. As reported in the Philippine Star on Aug. 16, in 2007 Malaysia, Singapore, Thailand, Indonesia and Vietnam were way ahead of the Philippines in this regard.
It occurred to this outsider that if it could be shown that the constitutions of some of the named countries were just as protective as that of the Philippines, this particular argument might be sent spiraling earthward. (On Aug. 19, Herman Tiu Laurel’s column performed the same public service by looking at investment laws.)
Thailand may be one of the few countries in the world whose constitution is blatantly framed on behalf of the private sector. Section 84 (1) obliges the state to pursue economic policies by “encouraging a free and fair economic system through market mechanism, ensuring the development of economics in sustainable fashion by repealing and refraining from the enactment of laws, rules and regulations controlling business which do not correspond with the economic necessity, and refraining from the engagement in an enterprise in competition with the private sector unless it is necessary for the purpose of maintaining the security of State, preserving common interests, or providing public utilities…”.... MORE
Source: The Daily Tribune
URL: http://www.tribuneonline.org/commentary/20110906com5.html
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